Asyad Group plans to sell a further 6.25 percent stake in Asyad Shipping Company through a secondary offering, increasing the shipping company’s free float to more than 25 percent.
The offering will comprise a 5 percent tranche for institutional investors and up to 1.25 percent for retail investors, Asyad Shipping said in a statement to the Muscat Stock Exchange (MSX).
The sell-off is significant given Asyad’s ownership comes under Oman’s sovereign wealth fund: the Oman Investment Authority.
Sovereign sell-off
The sale is intended to bring Asyad Shipping’s free float above the 25 percent minimum required by Oman’s Financial Services Authority.
The institutional bookbuild opened on 21 October and will close on 22 October. The final offer price and allocations are expected to be announced on October 26, subject to regulatory approvals, with the institutional tranche scheduled to list on November 4.
The retail offering will open after the institutional bookbuild closes and will be priced at the same level.
Key stakeholders
Oman Investment Bank and Sohar International Bank have been appointed joint global coordinators and issue managers.
Asyad Shipping listed on the MSX in March 2025, when Asyad Group sold a 20 percent stake through an initial public offering.
The proposed sale follows stronger financial results for the shipping company. Asyad Shipping reported net profit of OMR 68M for the first nine months of 2026, up from OMR 33M in the same period last year.
Gross revenue increased 10 percent year on year to OMR 277M, supported by higher freight and time charter rates.
Asyad Shipping shares were trading 0.5 percent lower at OMR 0.223 on Tuesday afternoon, although the stock remained up 22 percent since the start of 2026.
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